Bloomberg, Europe, Bloomberg Marcus discussed on Bloomberg Daybreak: Europe
Every fifteen minutes here on Bloomberg radio and sitting here yesterday at this very time, Marcus, I remember saying that equity markets needed an impetus from growth data or trade or something for the next leg higher. We do get the impetus from global growth, but it pushes equities lower the mood music to a certain extent sort of souring a little bit when it comes to global growth going forward. We're expecting the European Central Bank for one to lower its outlook for yours. Yours own growth going forward. Today ahead of that. We all the socks six hundred starting the session in the red down by two tenths of one percent. The CAC count down by about one tenth of one percent. We're still waiting for an opening figure out of Frankfurt while the for to one hundred is off by three tenths of one percent on a sector-by-sector basis. We're seeing a basic resources. Pardon me telecoms as well as utilities trading to the upside this morning. Absolutely. But of a defensive move here on the downside. We are seeing basic resources. It is the main lagging sector this morning in the US yesterday. We saw equities fall to a three week low. So we got a data on the US trade deficit. We also got some hiring data through General Electric tumbled second day after the CEO's cashflow warning. But overall US equities taking a hit and few futures on the back foot as well. You're seeing NASDAQ futures lower by three tenths of a percent S and P five hundred Emmys down almost three tenths of a percent. Dow futures down by the same as well. In the bull markets the ten year. Treasury yield has been edging lower all week we're fairly steady right now on to sixty nine handle. But look the move in bond markets in Europe was really noteworthy yesterday Marcus talking about the scoop to do with the from Bloomberg. We saw tenure bundles drop we tend ubt peels hit a January low those yields looking at the burns steady right now the ten year BT peeled edges up two basis points to a two sixty one hundred. Yes. So perhaps a little bit of a rebound for. ATP yields this morning when it comes to the currency space. We are seeing the Bloomberg dollar spot index marginally higher. It's the seventh consecutive session that we're seeing the Bloomberg dollar spot index somewhat higher. We are looking at a euro dollar, though ahead of the meeting once again little changed at one spot. Thirteen zero seven also taking starting this morning at one spot thirty one sixty five against the greenback. Back to is little changed. Yeah. You know, it's interesting. Because while we saw those yields move as I was just saying in Europe off the back of ECB scoop from Bloomberg the euro actually ended pretty much unchanged going nowhere today. The question asks, whether if we get any kind of easing or signal of it from the if that could reignite euro volatility who knows in terms of the dollar strength as well. You know, some of these yesterday was down to weakness, for example, from CAD we've seen some AUSSIE dollar weakness recently, it's up a little bit today as well. But as I say, it comes back to that question of the lack of alternatives to the dollar in terms of dollar strength checking on oil as well. We've had two days of losses. We got the. The data. Then we got the old with inventories oil drops for two days. It's bounced back a little today. But right now, WTI dead flat. Fifty-six Twenty-three Brent ever so slightly on the front foot sixty six zero nine now for more on what stocks to watch this morning. Let's bring in Bloomberg's you and pulse. Who's here in the London studio. Very good morning to you and great to have you here. Let's kick it off with LaFarge Holcim, and apparently cost drive is well, it's going well, high orcas. Yeah. Fully numbers from the world's largest cement maker, the fresh wholesome says a cost savings program is progressing faster than expected. The Switzer make reporting fully sales of twenty seven and a half billion francs and recurring a bit of six billion francs. Both broadly in line with estimates. The fascism's in the process of cleaning up the company's portfolio, cutting jobs and focusing on fewer markets shares trading up eight tenths of one percent. Let's turn to Merck as well. You earn a seeing its first growth in annual profits since two thousand sixteen. Hey, Barry, German Merck. Reporting booming demand for products and services from its life summons division. That's the division that supplies researchers and laboratories as you say the first growth in annual profits three years now, the pharmaceuticals and chemicals maker says that profit for two thousand nine hundred nineteen will increase in a percentage range in the low teens, but while the life science business is hot Merck management stars job of reinforcing the healthcare division, which is in need of new drugs and the performance materials units. Its smallest division Merck. Shares trading down one point six percent. So far. We're also seeing countrywide has coming under pressure here in the U K you and this has countrywide is warning of headwinds. Yeah. Some significant headwinds for the UK estate agent group countrywide survey reported adjusted profit for the fully afford half million pounds down from twenty million pounds at this point a year. Earlier countrywide saying that Brexit is adding to market weakness in the fourth. Quarter those headwinds continuing into twenty nine thousand nine it says, it expects a further slowdown in residential and commercial state agency, and in particular in London and the south wing new which has driven the slowdown impromptu here in the UK, but it says it remains confidence on a turnaround. Those shares were trading sixty five Pence early last year that are down ten P down nearly five percent you and parts in our London studio. Thank you so much. I'm just gonna talk about JC Dakota's. Well, because it's actually the best performer on the stock six hundred right now up six percent. So in terms of the earnings the full year adjusted EBay came in above estimates. But the comment that I really focused on with the cozy year when I interviewed him on TV earlier, John fonts dako- was the comment that they're going to pursue further. Emanate opportunities. I asked him directly if they were gonna make a bid for clear channel. Of course, he dodged that. But he did say that they were looking at the US as a growth area in terms of emanate, but they're also looking elsewhere in the world if they're going to stay disciplined on, but they're certainly looking for those opportunities is what he said looking. Looking for opportunities. JC deco shares in any case heading higher. This morning is narrow was just saying let's drill a little bit deeper into the European Central Bank. We've already mentioned it in our conversation at the top of the hour. We are going to hear its latest policy decision later today. Bloomberg's portraits Kalinovsky has the preview of what else we might hear from Frankfurt European central? Bank officials are poised to cut their economic forecasts on Thursday by enough to justify another round of longer term loans for banks the your area growth has suffered from rising protectionism and the always on Wednesday urged to signal a delay to interest rate increases president Mario Draghi will be quizzed about the features of the new Bank funding. But the details may not be unveiled until April in Frankfurt, cutting Muskie, Bloomberg daybreak Europe. Yeah. And it's interesting that question over the transmission mechanism. You've got different houses torn on the impact of negative rates on a bank's profitability. And therefore what that means. In terms of the timing and the scope and the details of any kind of tell tro at rollover announcement, shall we turn to the Federal Reserve max because we've also got some news flow out of the US central Bank. Yeah. The economy cooled in the first few months of two thousand nineteen in its latest beige book report, the fed says growth was quote, slight to moderate New York fed president John Williams says the central Bank can still afford to be patient inflationary risks. Just don't seem to be out there right now at all. And so again, suggesting somewhat better that we don't suggesting that we don't need to tighten monetary policy. Maybe as much as I previously thought that was New York fed president, John Williams. Now, we've also got some Brexit news for you this morning. The UK government is already mapping out. What might happen? If Theresa May loses a vote on her deal next week. Bloomberg's Alex Morales says positions have hardened after talks in Brussels this week. The prime minister is unlikely to seek further. Concessions from Brussels. And instead the government thinks parliament is likely to take control of proceedings by I ruling out in no, do Brexit and then voting to delay. Britain's departure from the block in Brussels. EU officials a pessimistic a deal can be reached and a reluctant to make concessions any compromise full to defeat in the house of Commons of burst of optimism earlier in the week positions are hardening again and maize teams. He's Monday morning is the absolute latest. They can security changes to the deal after that the fate of the deal rests with the house of Commons in Tuesday's vote in London. Alex Morales Bloomberg daybreak, Europe and Toyotas. The latest company to warn about the danger of a no deal. Brexit. Head of Europe Johan van Zyl said it may quit the UK if the country crashes out of the European Union on bad terms to your comments follow similar warnings from Nissan and Honda between them. They. Oh, three of the UK's. Biggest factories fans. Ill said that all decisions would be on the agenda if the business environment makes it hard to operate. One more story that we want to mention. Gotcha Bank is making deep cuts to bonuses. While the lender will give raises to top performers. According to people familiar with the matter. Some Bank is in New York as well as in London will receive zero payouts the pool for two thousand eighteen dropped to less than two billion euros. We understand but say ten to fifteen percent decline from twenty seventeen. Those are your top stories for the latest in global news. Here's Bloomberg's leeann guarantee highly on good morning, Nara in Thailand. A political party linked to exiled. Former prime minister tuction Chinnawat could be dissolved by a court later today. Bloomberg's Randy sanctum nights says this is for violating rules that prohibit using the Royal family in election campaigning disillusion could hurt efforts by toxins allies to maximize vote ahead of the March twenty four election, and it could boost a push by the hydrant to return as premier in Bangkok. Randy tanto Nate, Bloomberg daybreak Europe in Hungary, Prime Minister Viktor opens party appears to be on track to be exp. Culled from the European Union's largest political group. Bloomberg's Zoltan Shimin reports Manfred Weber the European People's Party candidate in legislative elections said time was running out for or bound to prove he still wants to be part of the group is conditions include an apology from the liberal leader for running an anti you campaign in Budapest Zoltan Shimon, Bloomberg daybreak Europe. And Canada the political scandal surrounding prime minister Justin Trudeau continues to swell in the Josh Wingrove says the crisis could threaten his hope of reelection a top aide to Justin Trudeau testified Wednesday about the former attorney general and the ongoing saga over whether she was pressured to help a major construction company Gerald butts said he never knew minister Jodie Wilson rebelled had ruled out aid or that she was bothered by ongoing discussions until after she was shuffled out of her dream job in Ottawa. Josh Wingrove, Bloomberg daybreak Europe. And President Trump has said he'd be very dis-. Appointed if North Korea is confirmed to be rebuilding a rocket launch site satellite. Images published yesterday suggests Pyongyang is restoring the site. It had pledged to scrap last year talks between Trump and North Korean leader, Kim Jong UN down at a summit in Vietnam. Last week playboy news twenty four hours a day on aeronautic talk on Twitter, powered by more than twenty seven hundred journalists and analysts in one hundred twenty countries guarantee. This is Bloomberg Marcus, thanks so much Leon guaranteed now. Commiserations Paris with the morning sport..